What Is a Virtual Account and How Do You Fund a Wallet With It?

If you have used an app that gives you a bank account number after you sign up, you have met a virtual account. It sounds technical, but the idea is simple.

What is a virtual account?

A virtual account is a real bank account number that is linked to your wallet. When you send money to that number from any bank app or USSD code, the platform sees the payment and adds it to your wallet balance, usually within a few minutes.

Why platforms use them

Without a virtual account, someone has to check each transfer by hand. A personal account number means each payment is matched to the right person automatically, so you do not need to send proof of payment or wait for manual approval.

How to fund your wallet with it

1. Log in and open the wallet or fund wallet page.
2. Copy your account number and note the bank name and account name.
3. Open your bank app or dial your bank's USSD code.
4. Send the amount you want to that account number.
5. Wait a few minutes and check your wallet balance.

Things to check before you send

• The account name. It should match the name you registered with. If the name looks different, stop and contact support.
• The bank name. Make sure you are sending to the bank shown in the app.
• Any fees. Some platforms charge a small funding fee. Check the app for the current details before you send.

What if the money does not show?

First, wait a few minutes, because bank transfers are not always instant. Then check your history in the app. If it still has not appeared after a reasonable time, contact support with your transfer reference, the amount and the time you sent it. A screenshot of your bank receipt helps.

Keep your account number private-ish

Your virtual account number is safe to share with someone who wants to send you money for your wallet, but do not share your password, PIN or login codes with anyone.

Create a free QuickPlug account to get your own virtual account and fund your wallet by transfer.